Boohoo FY20 revenue jumps 44% to £1235 million

Boohoo group, an inclusive and innovative brand, posted 44 per cent jump in its net revenue to £1,234.9 million in fiscal 2020 ended on February 29, 2020 compared to revenue of £856.9 million in previous fiscal. Gross profit grew 42 per cent to £666.2 million (FY19: £469.0 million). Profit before tax rose 54 per cent to £92.2 million (FY19: £59.9 million). 

 

Boohoo group, an inclusive and innovative brand, posted 44 per cent jump in its net revenue to £1,234.9 million in fiscal 2020 ended on February 29, 2020 compared to revenue of £856.9 million in previous fiscal. Gross profit grew 42 per cent to £666.2 million (FY19: £469.0 million). Profit before tax rose 54 per cent to £92.2 million (FY19: £59.9 million).#

“Whilst recent events have understandably overshadowed what has been a great year for boohoo, they have also highlighted its key strengths. Our business is founded on our ability to be agile and flexible and it is at times like this when these abilities are tested, and I am proud of how our colleagues and business partners from around the world have responded to the challenges posed by this pandemic,” John Lyttle, CEO of Boohoo group, said in a press release.

 

Boohoo group, an inclusive and innovative brand, posted 44 per cent jump in its net revenue to £1,234.9 million in fiscal 2020 ended on February 29, 2020 compared to revenue of £856.9 million in previous fiscal. Gross profit grew 42 per cent to £666.2 million (FY19: £469.0 million). Profit before tax rose 54 per cent to £92.2 million (FY19: £59.9 million).#

Operating profit for the year were £90.8 million (FY19: £58.6 million). Profit for the year were £72.8 million (FY19: £47.4 million).

 

Boohoo group, an inclusive and innovative brand, posted 44 per cent jump in its net revenue to £1,234.9 million in fiscal 2020 ended on February 29, 2020 compared to revenue of £856.9 million in previous fiscal. Gross profit grew 42 per cent to £666.2 million (FY19: £469.0 million). Profit before tax rose 54 per cent to £92.2 million (FY19: £59.9 million).#

Revenue of boohoo brand increased 38 per cent to £600.7 million (FY19: £434.5 million). PrettyLittleThing’s brand revenue grew 38 per cent to £516.3 million (FY19: £374.4 million). Nasty Gal brand’s revenue grew to £98.8 million.

 

Boohoo group, an inclusive and innovative brand, posted 44 per cent jump in its net revenue to £1,234.9 million in fiscal 2020 ended on February 29, 2020 compared to revenue of £856.9 million in previous fiscal. Gross profit grew 42 per cent to £666.2 million (FY19: £469.0 million). Profit before tax rose 54 per cent to £92.2 million (FY19: £59.9 million).#

“Although there is near-term uncertainty in the markets that we operate in, the group is underpinned by its incredibly strong balance sheet and is well-placed to leverage its scalable multi-brand platform and to continue to disrupt fashion markets around the world,” Lyttle said.

 

Boohoo group, an inclusive and innovative brand, posted 44 per cent jump in its net revenue to £1,234.9 million in fiscal 2020 ended on February 29, 2020 compared to revenue of £856.9 million in previous fiscal. Gross profit grew 42 per cent to £666.2 million (FY19: £469.0 million). Profit before tax rose 54 per cent to £92.2 million (FY19: £59.9 million).#

Revenue in UK grew 39 per cent to £679.2 million (FY1: £488.1 million). Rest of Europe’s revenue jumped 64 per cent to £188.4 million (FY19: 115.1 million). US reported revenue of £263.6 million (FY19: £166.2 million). Rest of world revenue grew to £103.5 million.  

 

Boohoo group, an inclusive and innovative brand, posted 44 per cent jump in its net revenue to £1,234.9 million in fiscal 2020 ended on February 29, 2020 compared to revenue of £856.9 million in previous fiscal. Gross profit grew 42 per cent to £666.2 million (FY19: £469.0 million). Profit before tax rose 54 per cent to £92.2 million (FY19: £59.9 million).#

In its future outlook, the group reported a strong end to the FY20 and in the first two weeks of FY21 this trading momentum has maintained. However, since the middle of March, trading has been mixed, as a result of the impact of the Covid-19 pandemic.

 

Boohoo group, an inclusive and innovative brand, posted 44 per cent jump in its net revenue to £1,234.9 million in fiscal 2020 ended on February 29, 2020 compared to revenue of £856.9 million in previous fiscal. Gross profit grew 42 per cent to £666.2 million (FY19: £469.0 million). Profit before tax rose 54 per cent to £92.2 million (FY19: £59.9 million).#

Given the uncertainty generated by the continually-evolving Covid-19 pandemic, group suggested that it is not appropriate to provide guidance for the financial year ending 28 February 2021 at present.